NEW Test $3$ MOC Sp$2024$ Ch$10-12$Question $1(1$ point$)<$ ListenA current liability is a debt that can reasonably be expected to be paidwithin one year, or the operating cycle, whichever is longer. out of cash currently on hand. out of currently recognized revenues. between $6$ months and $18$ months$\mathrm{.}3-19--2225--2825-=8-1114--17202326293----9--12--15--18---242130$Question $2(1$ point$)4)$ ListenMoss County Bank agrees to lend the Sadowski Brick Company $$500,000$ on January $1.$ Sadowski Brick Company signs a $$500,000,6\%,9-$month note. The entry made by Sadowski Brick Company on January $1$ to record the proceeds and issuance of the note isInterest ExpenseCash$22,500477,500$Notes Payable$500,000$CashInterest Expense$500,00022,500$Notes Payable$500,00022,500522,500$CashInterest ExpenseNotes PayableInterest Payable$500,000500,00022,500$OLG